Tue, 16 Apr 2024 | ADMINISTRATION
A stage engineering specialist based in West Yorkshire has fallen into administration and ceased trading, with administrators now set to market its assets for sale. Halifax-based Safe Stage Services Limited fell into administration on April 9, appointing Howard Smith and Rick Harrison of Interpath Advisory as joint administrators.
Safe Stage Services, which was founded in 2016 by Managing Director Richard Turner, provided steel manufacturing and installation services for stages in the studio and theatre industries. As well as supplying stage engineering and performance system products, the company also had its own in-house design and fabrication teams.
The company provided technical stage engineering support across all aspects of theatre and performance, with services including stage lift installation, hoists and drapes, rigging and trussing and variable acoustic systems.
Despite working on projects locally, around the UK and internationally, the business had suffered as a result of cashflow issues and, due to its financial position, was unable to continue trading.
On its website, the company listed recent stage engineering projects at a University in Nashville, Tennessee, the Liverpool Playhouse Theatre and the King’s Hall in Ilkey, as well as engineering work on the lift systems at Leicester’s De Montfort Hall theatre.
Upon the appointment of the joint administrators, the company’s two full-time employees were made redundant and the company ceased trading, with a process now underway to sell the assets of the business.
In the company’s accounts for the year to January 31 2023, its fixed assets were valued at just short of £189,000, while current assets were valued at slightly over £266,000. At the time, the business owed nearly £420,000 to creditors, with net assets amounting to £171,104.
Click here to download our free guide on finding and buying distressed businesses and assets
Established 1988, an engineering product and equipment distributor established over 15 years, and located in the heart of West Midlands.
A profitable and well-established engineering business dedicated to delivering exceptional precision parts with unparalleled quality. Specialising in complex, high-tolerance components, this company caters to a wide range of industries, including las...
The business has been successfully trading for nearly a quarter of a century. It is well located in a busy commercial area with good access routes. The property is of a high-quality and in addition the company owns a freehold premises that are let of...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.